Batavia Financial Adviser Used Clients' Money For Travel, Jewelry: Feds

BATAVIA, IL — A Batavia man was indicted on federal charges in connection with allegations he swindled clients, using their investment money to pay for personal luxuries under the guise of investing in nonexistent business opportunities.

Ralph Rogers III, who is also known as "Tres Rogers," was charged with six counts of wire fraud in an indictment returned Tuesday to the U.S. District Court in Chicago. Each count could result in up to 20 years in federal prison.

The scheme took place from October 2021 to September 2023, the complaint alleges.

The 62-year-old Batavia resident, who purported to be an entrepreneur and investment adviser, fraudulently obtained money from several people by promising to use his professional connections to invest their money in "valuable investment opportunities," including fiber optic cable installation, copper piping, a physical fitness recovery studio, and materials used to manufacture auto parts, according to the indictment.

Instead, prosecutors say Rogers spent the money on his own travel, hotel rooms, jewelry, apparel and gym fees.

When prospective investors inquired about their funds, Rogers told them to be "patient as investment returns were forthcoming." He would then provide them with funds he received from subsequent investors, according to the document.

Rogers's arraignment in federal court has not yet been scheduled.